Vauxhall Corsa-D Forum banner

Finance

5K views 27 replies 13 participants last post by  Rosslol 
#1 ·
Already posted on C forums, But recently ive been trying to get finance for a D.

I have a well paid full time job, a bank loan that i've never missed a payment on, and yeah im 19.

Basically even with a garuntor i've still been refused...

Tryed arnold clark for a 1.2 9k d.. refused after they tryed alot of places.

2 months later and im now 19 tryed yesterday for a red 1.4 Sxi with 17"s and styling pack, works out at 10k, 59 plate.

If this falls through, whats your ideas? How did you manage to get finance at around my age?
 
#7 ·
Your trade in would go to the new car not a bank loan, If you're owe the bank say £10k and the cars £10k thats 20k in debt, so what ever you earn over the year might not be enough to cover your repayments on both, they do credit checks thats how they decide, keep trying though you might get lucky with xmas coming up there wont be alot of cars sold for the next couple of months.
 
#10 ·
Your trade in would go to the new car not a bank loan, If you're owe the bank say £10k and the cars £10k thats 20k in debt, so what ever you earn over the year might not be enough to cover your repayments on both, they do credit checks thats how they decide, keep trying though you might get lucky with xmas coming up there wont be alot of cars sold for the next couple of months.

My loan was 4k i have 3k left on it to pay, They are giving me 3k trade in for my car and handing me it over in cash, hence why its paying off my loan, and i'd only be 10k in debt instead of 14k, And yeah the salesman said same thing xmas alot of cars won be selling etc etc.
 
#6 ·
Actually it's harder to get finance if you DON'T have a loan, basically it could be that you don't have a credit history as yet, my credit history is bloody awful but I still got finance from GMAC on my D n that's even though my bank won't give me a loan at all.

Problem now is because you've been refused by several companies you're screwed as it all goes against you, easiest way to get a good credit history is by having things like a mobile contract.

As for using your old car to pay off your loan, bad idea, settling early is another bad thing to do, not as bad as defaulting but it's nowhere near as good paying it off in the time you agreed to.

If it fails again don't do it again, go to your bank and see what you can do with them, may actually be cheaper but then there's no guarantee.
 
#13 ·
it might be worth trying another guarantor, im 17 and ive got my d on finance, also try a big deposit, my car was 16,500 or there abouts and with a guarantor and a 4,000 pound deposit i got 0% finace first time?

also got a contract phone with guarantor, witch apparently helps credit rating.
 
#20 ·
Yeah my mum and dad would happily get me it, If they could=p They had alot of bother, dad got paid off 5 or so years back so they had to get up to their eyes in debt to keep the house, now they cant get credit due to it=p I mean they're guna try if i get knocked back again, but thats probably my last option =/ I have a bankloan, overdraft, alot of direct debits and 2k coming into my bank each month.. I still fail to see why i wont get it=p?
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top